The secondary sector, comprising manufacturing, construction and utilities, was the main reason for the slowdown, but agriculture & services did better than last year.
Govt launched 'Make in India' on 25 Sept 2014 to make India manufacturing hub. On its 10th anniversary, PM Modi said it illustrates 'collective resolve of 140 crore Indians'.
Sitharaman should use NSSO data on household consumption of various goods and services, make public the GST paid by the top, middle, and poorest income groups.
World Bank has revised India’s GDP projection for current fiscal to 7% from previous estimate of 6.6%. Pick-up in agriculture & govt spending should lift growth in the coming quarters.
India's growth post-1970 outpaced both low and middle-income countries, as well as the world economy. Yet, it has not been a “shining” record, because of poor socio-economic metrics and rising inequality.
In the April-June quarter, elections, govt spending slowdown & heatwave are expected to have contributed to slower growth. Going forward, rural demand may see a pick-up.
The target signals the government's intention to remain fiscally prudent despite expectations it may ramp up spending on welfare programs following a weaker than anticipated election victory for Modi.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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